The Digital Dilemma for “Traditional” Business
In the title of this post, you’ll notice that I put the word “traditional” in quotes. The reason for this is that I subscribe to the notion that, within the decade, it will be clear that “traditional” business or businesses that don’t have software (and data) at their core, will start to become the exception rather than the norm. This is a theme that I’ve been communicating through a number of public presentations that I’ve done lately on Digital Transformation.
I haven’t been this convinced (and gung-ho) about technology’s central role in the world economy since I was very young and naive (translation: a long time ago). Some may say I’m still naive for thinking this way again, but there are some very real reasons for holding this perspective. The newspaper, music, telecommunication and, now, retail industries have felt the sharp whip of digital disruption in the past and, some would say, have never recovered. Industries such as that of financial services, education and even healthcare are now feeling the snap of that same whip threatening them. By the way, an internal analysis done by the New York Times was leaked today on the net.